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In my entire career, I don't think I've ever seen a "status quo" kind of year in Northern Colorado Real Estate. I've seen the lowest of the low, the highest of the high and everything in between. Typically, a year will have a constant theme. In 2022, the year was "rollercoaster" simply due to the incredible shift midway through the year in home prices, sales and interest rates. Both buyers…Read More
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Real estate in Northern Colorado has gotten pretty sticky over the last 3-4 months, and as we head into the holiday season, it seems like buyers are taking the wait and see approach. As it stands now, most industry experts believe that interest rates still have some room to come down, and prices also have some room to come down. Right now, the fate of the market is in the buyers hands, for the…Read More
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The Northern Colorado real estate market is in full slowdown mode as the "new normal" begins to pan out - higher interest rates keeping many buyers on the sidelines, while now sellers are competing for buyers who are brave enough to take on the 6-7% interest rate environment. There is plenty of pain on either side of the transaction at this point. Buyers have to bite the bullet and take a leap…Read More
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The full effects of interest rates well into the high 6% and even low 7% range is starting to be felt across Northern Colorado as inventory is beginning to inch up. While we were praying for additional inventory earlier in the year, so that buyers could have a bit more negotiating power, high interest rates have taken the wind out of buyer's sails. There really is not a clear direction with th…Read More
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We're finally starting to see the effects of the massive rate hike from late spring. All the contracts from late May through June that closed in July are giving us a real indication of the market slowing down for the first time in about a decade. But fear not, a slow down certainly doesn't mean a decline in prices, just a tempering of appreciation that was out of control. Finally, buyers mig…Read More
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One half of 2022 is in the books and it has been an adventure to say the least. At the beginning of the year it seemed as if it would be "business as usual" - fast paced market, huge gains and intense competition for very few homes, but inflationary concerns have led to almost a 2% increase in rates which might help the market cool down a bit for the rest of the year, however, there is still no …Read More
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In a real estate market that is still full of surprises, one of the trends I've seen coming on lately is the return of adjustable rate mortgages (ARMs). For nearly the last decade, ARMs fell out of style, simply because some were unsafe, unclear and sometimes unfair and predatory in the mid to late 2000's, one of the big reasons the mortgage market melted down. Borrowers with unsafe ARMs and b…Read More
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We are deep into the selling season, home values and sales are remaining strong across Northern Colorado despite a bump in interest rates. Many of the closings in May represented contracts from the late March through April timeframe, before rates began to really increase, so June data will be much more telling. Either way, sales and prices generally remained strong with limited inventory, and …Read More
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It doesn't seem like rising interest rates, monkey pox or recession fears have slowed down the real estate market yet, if anything, these pressures are pushing buyers to act now by hustling to get their purchase under contract, beating out the hoards of buyers descending upon Northern Colorado. It'll take a well crafted offer, solid financing, and perfect timing to see a home, write an offer and b…Read More
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Finally, finally, finally - there are some more homes on the market. A small uptick between February and into March is adding to the momentum of the housing market this spring, however, the uptick is just that - very, very small, so homebuyers aren't feeling much relief, if anything. And along with that distressing feeling, buyers are now having to adjust budgets and expectations as interest r…Read More
